De acuerdo con el CEO de Binance, transactions with cryptocurrencies through Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. The fact that they are very transparent would make it difficult for those who want to transfer value anonymously for illicit purposes.
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The CEO of Binance and one of the most recognized figures in the crypto sector, Changpeng Zhao (CZ), recently assured that cryptocurrencies are not the most advisable option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. for those who want to avoid financial sanctions.
“Cryptocurrencies are not a good way to circumvent sanctions.” assures Zhao
Zhao’s statements came during an interview conducted by the news agency CNN, where the main executive of Binance emphasized that these assets are highly traceable, since the technology Blockchain ensures the transparency of financial operations, he added:
“If you look at the data, nobody smart does that. Cryptocurrencies are too traceable, governments around the world are getting more and more efficient at tracking cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. transactions… So digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies are not good for that.”
Again Zhao reiterated the latter in light of existing concerns about the usefulness of cryptocurrencies to circumvent financial sanctions, especially in light of the measures being taken by regulatory bodies and certain governments against Russia following its armed incursion into Ukrainian territory.
With regard to the latter, Zhao stated that Binance is against war and warlike actions, so it firmly rejects authoritarian political positions and dictators who start wars, making it clear that this does not mean that they are in favor of harming innocent people and strangers to these conflicts:
“We are not against the people. There are many people on both sides, both in Ukraine and Russia, who are suffering and we want to help them.”
Let us keep in mind that Binance, hand in hand with Kraken y Coinbase is an American company that operates a cryptocurrency exchange platform. publicly stated their refusal to unilaterally freeze accounts belonging to Russian users. However, the CEO of the latter, Brian Armstrong, stressed that as companies that must operate in accordance with the laws of the countries where they operate, they would be obliged to comply with the rulings of the responsible governments and/or international bodies if they request the suspension of services to individuals.
Ilegalidad y operaciones con criptomonedas
Zhao’s statements are very much in line with what has been reflected in various investigations in the cryptocurrency sector, which highlight how these assets are not the most popular means to perpetrate financial crimes, while the main channel to carry them out remains fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. money in its various forms.
This last assertion was recently made by the U.S. Department of the Treasury, which indicated in a report that activities such as terrorist financing and money laundering continue to use fiat currencies as a primary mechanism, mainly through cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. payments and/or covert banking transactions.
On the reasons why cryptocurrencies are not the best medium, a report by the firm Elliptic details that operations through Blockchain, although they enable cross-border transactions without the control of third parties, they leave information associated with the operation open for public consultation, which can be verifiable and traceable if the necessary tools are available to carry out the corresponding analysis.
- IMF warns Russia sanctions could boost cryptocurrency use, erode dollar supremacy
- Rusia considera la posibilidad de vender gas a term used on the Ethereum platform that refers to a unit of measuring the computational effort of conducting transactions or smart contracts, or launch DApps in the Ethereum network. It is the “fuel” of the Ethereum network. *see Gas Limit and Gas Price. natural y petróleo en Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions.
- U.S. Senator proposes bill to prevent cryptocurrencies from trading with sanctioned Russian entities
Source: Cryptopotato , Treasury Department
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Nicole.Design for DiarioBitcoin
